Innergex Renewable Energy Inc. and Sekw’el’was Cayoose Creek Band announced last month that they have reached an agreement with BC Hydro for the renewal of the Walden North hydro facility’s electricity purchase agreement (EPA).
The renewed EPA is effective as of Apr. 1, 2018 and has a 40-year term.
The EPA is subject to approval by the British Columbia Utilities Commission.
The Walden North hydroelectric facility was acquired in February 2016 by Cayoose CreekPower L.P., a partnership formed by Cayoose Creek Development Corp. (CCDC)
(49 per cent) and Innergex (51 per cebt ).
CCDC is the business arm of Sekw’el’was Cayoose Creek Band.
Walden North is a 16 MW run-of-river hydro facility in operation since 1993 and produces approximately 35,000 MWh per year. The Walden North facility is operated
by Innergex and located off Highway 99 just south of Lillooet, in close proximity to several of Innergex’s hydroelectric facilities.
“We are pleased with the 40-year electricity purchase agreement signed with BC Hydro for the Walden North hydro facility,” said Michel Letellier, President and Chief Executive Officer of Innergex. “This facility is the perfect example that, in addition to producing emission-free electricity, the renewable energy sector can provide
excellent opportunities for economic empowerment for First Nations. Innergex strives to be a partner of choice for communities and we are proud to be partner with
Sekw’el’was in this project that will bring wealth to thi scommunity for at least the next 40 years.”
“The acquisition of the Walden North hydroelectric facility is an important part of the Sekw’el’was economic vision,” said Chief Michelle Edwards, Chief of Sekw’el’was
Cayoose Creek Band. “The renewal of the electricity purchase agreement with BC Hydro is a milestone towards realizing the benefits from this facility and from our partnership.”
Innergex Renewable Energy Inc. develops, acquires, owns and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms and geothermal power generation plants. As a global player in the renewable energy sector, Innergex conducts operations in Canada, the United States, France and Iceland. Innergex manages a large portfolio of assets currently consisting of interests in 64 operating facilities with an aggregate net installed capacity of 1,604 MW, including 34 hydroelectric facilities, 25 wind farms, three solar farms and two geothermal facilities.
As the economic arm of the Cayoose Creek Band, Cayoose Creek Development Corporation is responsible for the oversight and development of its revenue generating assets, acquisitions and creation of business opportunities for the community.